Funding

[Funding alert] London-based FilmChain Secures €2.8 Million in Funding

Apr 19, 2024 | By Startup Rise EU

UK-based FilmChain, co-founded by Maria Tanjala and Irina Albita, has secures €2.8 million in funding. The Holt IntersXion fund led a round that resulted in this financial milestone.

UK-based FilmChain, co-founded by Maria Tanjala and Irina Albita, has secures €2.8 million in funding. The Holt IntersXion fund led a round that resulted in this financial milestone.

With backing from TechAngels Romania, DeBa Ventures, Roca X, and returning backer HearstLab. The investment, which also converts earlier notes, shows that FilmChain, which is presently handling over-subscription demand, has received strong support.

Maria Tanjala, co-founder of FilmChain said, “We are honoured to have attracted an exceptional group of investors to our capital table, encompassing seasoned fintech specialists, successful entrepreneurs, and distinguished professionals from entertainment, As we forge ahead in our quest to revolutionise global payments and expedite cash flow, we are excited to broaden our suite of products and harness cutting-edge technologies. Our strategic expansion into North America represents a natural progression for FilmChain.”

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In order to address the issues with slow settlements and ambiguous financial procedures in the entertainment sector, FilmChain presents a novel payment platform that guarantees instant access to comprehensive financial statistics and analytics.

Read also - Barcelona-based Factorial Secures $80Million in Funding

It is revolutionising the collection services industry with their innovative technology, which allows for real-time payments and on-demand reporting features. With more than 1900 customers and established momentum in the UK, Europe, and Australia, FilmChain is well-positioned to grow in North America.

Irina Albita, co-founder of FilmChain said, “In an era where transparency and immediate access to funds are paramount for filmmakers, talent, financiers, and sales agents, FilmChain stands as a beacon of innovation, Our payment infrastructure is meticulously crafted to cater to the critical needs of these stakeholders. With the infusion of fresh capital, we are poised to empower a new wave of filmmakers across North America.”

It's technological innovation is centred around the use of financial technology, including a private Ethereum blockchain, its own architecture, and fintech APIs to improve transaction transparency and auditability.

The intricate financials of the gaming, film, and television sectors are given more credibility and accountability as a result of this strategic integration. In an architecture that facilitates future secondary sales in asset management, the blockchain monitors ownership.

In 2023, FilmChain and the German Producers Association (Produzentenverband) formed a strategic alliance and introduced a customised reporting platform. Producers can now monitor and report on important indicators, such as revenue and viewership statistics, directly to content creators thanks to this creative approach.

It worked with the German Producers Association as a logical extension of their Collection Account Management (CAM) service to make sure the platform was perfectly in line with the particular requirements of the business.

Brendan Holt Dunn, GP HOLT IntersXion Fund, CEO Holdun Family Office said, “We see a particular under-the-radar moment to invest in the intersection of fintech and the sports, media & entertainment sectors. FilmChain’s fintech infrastructure alongside its blockchain technology ensures that every dollar of revenue generated is equitably distributed among stakeholders and royalties management is executed with unambiguous precision, driving more efficient, transparent, and secure financial operations in the management of film revenues,”.

About FilmChain

The first digital Collection Account Management (CAM) service is called FilmChain. It provides transparent income collection and allocation services in almost real-time, catering to the global screen industries. A royalty management system for businesses has been developed by FilmChain for digital distributors, broadcasters, and studios.

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